NEPSE Index went down by 4.83 points to close at 1116.19 levels; Insurance & Hotel sector pulls the market down; shares of NGBBL nosedived by 9.84% where 36,004 units were traded

The benchmark index at Nepal Stock Exchange went up down by 4.83 points or 0.43% to close at 1116.19 level. Opening at 1120.94 level this afternoon, the local brouse went down to 1113.46 level during third trading hour of the day. The total turnover of the day stood above Rs 44.39 crore where more than 8.30 lakhs unit shares were traded through 3,466transactions. The insurance and hotel sector was down by 48.98 points (0.95%) and 95.71 points (5.21%) respectively. Few insurance companies lost the points gained yesterday after the news regarding possible increment in paid up capital was circulated through several media houses. Soaltee Hotel ltd. lost Rs 24/unit to close at Rs 323/unit. The 36,004 units of Nepal Grameen Bikas Bank Ltd. (NGBBL) shares were traded. The NGBBL fell 9.84% shedding Rs 44/unit to close at Rs 403/unit. NGBBL had been increasing by almost 10% every trading day for past few weeks. Sensitive index and the float index went down by 1.21 points and 0.25points respectively. Banking, Hotels and Insurance landed in red whereas Development Bank, Hydropower and Finance landed in green. Insurance sector went down by 49.98 points.